On Friday, May 29, 2015, MTEMC announced that the utility had asked the City of Murfreesboro to enter discussions on a potential sale and consolidation of MED into MTEMC. The offer came in the form of a non-binding MOU. In considering whether to enter into negotiations with MTEMC, City administrators and elected and appointed officers are analyzing a number of financial and operational issues.
This will be discussed when the Murfreesboro City Council and the Power Board will conduct a Special Joint Public Meeting, Thursday, May 12, at 5:00 p.m. in the Council Chambers at City Hall, for the purpose of reviewing the Murfreesboro Electric Department (MED) Valuation Study. The study was conducted as a portion of the due diligence required to consider the Middle Tennessee Electric Membership Corporation (MTEMC) offer to purchase MED.
Middle Tennessee Electric serves 205,000 residential and business accounts in a service territory that includes Williamson, Wilson, Rutherford, and Cannon counties. Murfreesboro Electric Department serves approximately 55,000 homes and businesses within the city limits.
Murfreesboro Electric Department (MED) was organized in 1939 as a municipal utility that is owned by its ratepayers. They are a distributor of Tennessee Valley Authority power.
